Negative show in Germany Q2 GDP was.....>

EURO-DOLLAR: Negative show in Germany Q2 GDP was added to by the US 2y10y

inversion Wednesday which further fuelled recession speculation. These factors

provided the weight to take EUR/USD through support at $1.1160-62 in early NY,

touched an eventual low of $1.1131 during the NY afternoon. Rate closed the day

back toward $1.1140. Rate touched an early low in Asia of $1.135 before it edged

above $1.1140, holding this base before it slowly extended recovery to $1.1152

ahead of Europe. Europe has kept up this recovery tone, as risk aversion trades

continued to be tentatively pared, the rate touching $1.1153 at writing. 

- Resistance seen at the broken support of $1.1160 ahead of $1.1190/1.1200.

Support $1.1140, $1.1131, $1.1115/00.

- A light EZ data calendar Thursday. Market will watch for further signs that

could further recession fears. 

- US Retail Sales, Initial Jobless Claims, Phila Fed, Empire State at 1230GMT

ahead of US Cap.Ut./IP, Business Inventories at 1315GMT. Watch for Trump tweets

as regards China trade and Fed.